Sysco posts lower 2Q profit

NEW YORK (MarketWatch) -- Sysco
SYY, +0.74%
a distributor of food to restaurants, hotels, hospitals and schools, on Monday posted second-quarter earnings of $204.2 million, or 33 cents a share, compared to $232.6 million, or 36 cents a share in the year ago period. Second quarter earnings include a net expense of 4 cents a share for incremental share-based compensation. Sales increased 8.7% to $7.97 billion. Analysts, on average, were expecting Sysco to post a profit of 35 cents a share, according to Thomson First Call. Sysco said it was challenged by the high fuel prices and food cost inflation.

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